the last part of the file setup for a simple company is managing your vendors a vendor is
a company or person that sells you a product or service that your company needs if our company
sells products we have to buy them from someone the ones we buy them from our vendors we also need
vendors to perform services for us in order for us to operate our business here is Hattie's list of
vendors QuickBooks only requires that we put the name on the list and we could always go back to
the list of vendors and add the address with each vendor there should be a corresponding product or
service that the vendor gives for example of Hattie pays rex repair is because we had some
repair expense repair expenses already an account in the chart of accounts if we pay Verizon usually
it's for telephone if we pay UPS it's usually for delivery and if you live in New York when you pay
con Edison you pay for electricity so in addition to buying products or merchandise from our vendors
we also have to buy services in order to operate if we did not pay con Edison we would not be able
to operate our business because we would have no electricity the vendor center is the window that
we open in QuickBooks to manage the vendors this window allows us to add edit delete or even make
a vendor inactive and it's very very easy to manage from the main menu click vendor vendor
Center the vendor Center window is the window we use to add edit delete and generally manage
our vendors how do we put a new vendor on the list of vendors in the top-left of the vendor
Center you can click new vendor and you have a choice of adding multiple vendors at once or
adding vendors one at a time in a future video we will explore adding multiple vendors that in this
basic introductory video we will just click new vendor now QuickBooks only requires the name URL
of course you are encouraged in a real situation to put all the additional information about the
vendor into these fields so you can manage your relationship with the vendor notice additional
info is only one of four tabs and when you click on a different tab you get a different category
of information for that new vendor in our class we will only put the vendor name then when we click
OK it will be added to the list what are the vendor names well the first one was rex repair
so let's click in the field and type rex repair then when we click OK we notice rex repair has
been added to the list of vendors let's do that with the next vendor on the list Verizon click
here OOP scuse me Verizon click ok ok new vendor new vendor the next one was UPS and the last one
was con Edison u P s we click ok new vendor new vendor con Edison now we click OK so here are the
vendors on our vendor list so once a vendor is on the list how do we change their information
well that's very simple all you have to do is double click on any of the vendor names in the
left panel and the Edit vendor window will open up once the Edit vendor window is open you can add
edit or remove any of the additional information in any of the fields in any of the separate tabs
in future more advanced videos we will learn what these things are and how they function when we
finally get to the topic that relates to these right now all we need to do is put the vendor
name the vendor name is the name in our records in our QuickBooks file whatever you put in the
company name field is what will print on checks reports and other documents when you run the
reports or print the documents so again this is for our internal purposes and this is what shows
on documents and reports when we print them or we use them you can also make a vendor inactive the
same way that you made an account inactive in the chart of accounts if you right-click on any vendor
you could click make vendor inactive and it gives the appearance it gives the appearance of being
gone forever however you can always see all the inactive vendors by coming up to this pulldown
menu choice right now we're only showing active vendors but we can change this to show all vendors
and you notice there's an X next to the Rex repair that's because Rex has been indicated as inactive
if we right-click we can like well we make vendor inactive shows the X make vendor active removes
the X so if we now change back to active vendors Rex repair is now back on our active vendor list
please note you can only delete a vendor whom you never included in a transaction if you did
include the vendor in a transaction then you can edit and make the vendor inactive the same
way you can edit an account or make an account inactive the vendor center has many tools for
managing your relationship with vendors they're all common sense and you can figure them out just
by exploring them the most important thing to know about the vendor Center is that when you click on
a vendor you will see all of the transactions for that vendor listed here and if you choose a
different vendor from the Left panel you will see a different set of transactions for that vendor